AIG unit looking to sell fund management firm

GregMorcroft

NEW YORK (MarketWatch) -- American International Group's
AIG, -2.06%
AIG Global Real Estate said Monday that it plans to divest its fund management business, which operates 15 fund programs with over $12.4 billion in assets under management and $5.2 billion in equity capital commitments as of September 30, 2008. AIG said its advisors, Merrill Lynch and Bank of America, have begun soliciting possible buyers for the business.

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